Conn's Q2 Profit Beats Estimates

(RTTNews) - Conn's, Inc. (CONN) said strong retail performance combined with a credit spread of 1,200 basis points, contributed to record earnings per share in its second quarter. Same store sales increased 16.4% and total retail sales were up 24.0% over the prior year period. Looking forward, the company increased its fiscal 2022 same store sales guidance from high single-digit same store sales growth to mid-teens same store sales growth.

Second-quarter non-GAAP adjusted net income per share was $1.22 compared to $0.75 per share, previous year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.71, for the quarter. Analysts' estimates typically exclude special items. Net income was $37.0 million, or $1.22 per share, compared to $20.5 million, or $0.70 per share, a year ago.

Total revenues increased to $418.38 million from $366.92 million, prior year. Analysts expected revenue of $396.74 million, for the quarter.